The business arrangement in which the inventor of a product grants another business the right to manufacture it in exchange for royalties is called a ____ agreement.

Name: The business arrangement in which the inventor of a product grants another business the right to manufacture it in exchange for royalties is called a ____ agreement.
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Question

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A licensing agreement is a legal contract where the inventor allows another business to manufacture and sell their product in exchange for royalties.

The Business Arrangement in Which the Inventor of a Product